Year: 2024 | Month: February | Volume 69 | Issue 1Special
Innovative Enterprise: Risk Management Strategies of International Project Investments in the Era of Industry 4.0*
Iryna Miahkykh
Yuliia Horiashchenko
Oksana Okhrimenko
Ignacy Petecki
Alina Lytvynenko5 and Viktoriia Ilchenko
DOI:10.46852/0424-2513.1.2024.22
Abstract:
In the modern world marked by Industry 4.0, innovative enterprises are actively exploring opportunities for international expansion through investment projects. However, this process is accompanied by complex risks that require contemporary management strategies. The scientific article, “Innovative Enterprise: Risk Management Strategies for International Investment Projects in the Era of Industry 4.0,” addresses this pressing issue and proposes approaches to its resolution. The increasing globalization and advancements in production technologies (Industry 4.0) are creating new prospects for enterprises to attract international investments. Nevertheless, these investment projects come with a wide spectrum of risks that need to be effectively managed. The primary issue at hand is the absence of adequate risk management strategies, which may lead to financial losses and setbacks for innovative enterprises. Research Objective. The objective of this study is to examine and analyze risk management strategies for international investment projects within innovative enterprises in the context of Industry 4.0. The research aims to identify the most effective approaches to risk management and develop models for their practical implementation. The object of this research encompasses innovative enterprises engaged in international investment projects within the framework of Industry 4.0+. The subject of the study is the risk management strategies employed in these projects. This study employs the following methods. Analysis of academic literature to consolidate existing knowledge on risk management in international investment projects. Examination of the outcomes of case studies involving innovative enterprises undertaking international investments in the era of Industry 4.0. Interviews and expert assessments were conducted with leading professionals in the fields of risk management and innovation. Accomplished Tasks. The research author analyzed contemporary risk management strategies, assessing their effectiveness in international investment projects. Additionally, key factors and challenges faced by innovative enterprises in the context of Industry 4.0 were identified. Based on this analysis, recommendations were developed for the practical implementation of risk management strategies, aimed at enhancing the resilience of innovative enterprises in international markets. This scientific article underscores the significance of effective risk management in international investment projects for innovative enterprises operating in the contemporary landscape of Industry 4.0. Key findings emphasize the necessity of adapting risk management strategies to meet the demands of Industry 4.0 and the active utilization of advanced technologies in this process. The recommendations include the establishment of integrated risk management systems, workforce
Highlights
- The study emphasizes that in the contemporary business environment of Industry 4.0, innovation is a driving force for competitiveness, leading to a growing interest in international investments by innovative enterprises, thereby necessitating effective risk management strategies.
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